24/7 Wall St. recently looked at a number of large American companies, some of which are owned by foreign companies, to see which will disappear in 2011. It didn't take long to come up with a list of familiar names such as Sara Lee, Office Depot, Borders, E*Trade and five others.
Holiday sales are historically make-or-break for many retailers, and every year, several break -- and even go out of business. Others make large cuts in their store numbers and employees. 24/7 Wall St. combed through the numbers and spotlights 10 retailers that won't look the same next year -- if they're even around.
Standard & Poor's will make changes to several U.S. indexes next week, including the S&P MidCap 400, the S&P SmallCap 600, and the widely used S&P 500. The changes, which reflect the effects of acquisitions and market cap changes, will occur after the close of trading on Dec. 17.
As it released preliminary earnings results Monday, Office Depot also announced that Chairman and Chief Executive Officer Steve Odland is stepping down. Shares of Office Depot shot up more than 12% in premarket trading.
Office Depot has agreed to pay $1 million to settle Securities and Exchange Commission charges that it improperly disclosed key financial information to only a few analysts and shareholders. The CEO and former CFO also will pay $50,000 each.
The news likely to affect stock prices today, including strong showing from retail as Sears profit soars, Nordstrom's doubles, and Home Depot beats expectations and raises its dividend.
